Economy

• Wednesday, August 31st 2011 - 09:00 UTC

  Dissenting Fed member pledges unity but makes different reading of data available

  

  Federal Reserve Bank of Minneapolis President Narayana Kocherlakota signalled he would not attempt to annul the Fed’s commitment to keep interest rates near zero through mid-2013.

• Wednesday, August 31st 2011 - 08:51 UTC

  World’s largest beef producer relocates operations to save on taxes

  

  The world's largest beef producer, Brazil's JBS, will shift its meat packing operations to other locations where it operates in the country, to reap tax savings, the company said on Tuesday.

• Wednesday, August 31st 2011 - 08:48 UTC

  Kenya Airways purchases 10 Embraer 190 with an option for another 16

  

  Kenya’s Airways (KQ), the east African country national carrier announced it has signed a contract for acquisition of 10 Embraer 190 jets in a deal that includes the purchase rights for 16 jets from the company.

• Wednesday, August 31st 2011 - 08:40 UTC

  Freezing weather reduces Brazil’s sugar crop estimate

  

  Sugar output in Brazil, the world’s largest producer and exporter, will unexpectedly fall this year after freezing weather pared crop yields, the Agriculture Ministry said on Tuesday.

• Wednesday, August 31st 2011 - 08:14 UTC

  Some indicators showing the Brazilian economy is slowing down

  

  Brazil's economy showed new signs of a slowdown on Tuesday as steelmakers slashed their growth forecasts, the country's No. 1 airline scaled down its expansion plans and a new poll showed growing pessimism in the manufacturing sector.

• Wednesday, August 31st 2011 - 00:53 UTC

  IMF slashes growth forecasts for US and Euro zone; warns against higher rates

  

  The IMF has slashed its growth forecasts for the United States and said the Federal Reserve and the European Central Bank must be ready to ease policy.

• Wednesday, August 31st 2011 - 00:29 UTC

  Latam and Caribbean exports forecasted to expand 27% this year, says ECLAC

  

  The value of goods exported from Latin America and the Caribbean will grow by 27% in 2011, which is similar to that of last year according to a report presented in Santiago, Chile, by the Economic Commission for Latin America and the Caribbean (ECLAC).

• Tuesday, August 30th 2011 - 05:55 UTC

  Brazil to increase primary surplus and make room for cut in interest rates

  

  Brazil plans to further contain government spending this year to prepare the country for a global slowdown and make room for a cut in interest rates, Finance Minister Guido Mantega said on Monday.

• Tuesday, August 30th 2011 - 05:53 UTC

  Carbinero killed Chilean teenager; General, officers and several privates expelled

  

  Following trials with over 500 weapons, Chilean prosecutor Jorge Martínez confirmed that the bullet which killed 16 year old Manuel Gutierrez was fired by the Uzi sub-machinegun carried by Carbineros officer Miguel Millacura on the night of August 25 during the students' protest..

• Tuesday, August 30th 2011 - 03:56 UTC

  Nobel laureate praises Argentina; tells US and EU spending is the way out of recession

  

  United States and the European Union “are using the same recipe that the IMF applied on Argentina” to address the current global financial crisis and this only leads to “stagnation” said Nobel laureate Joseph Stiglitz attending a gathering of Nobel Prize recipients and young economists in Lindau, Germany.